1612 N 38th Street

Seattle, WA 98103

Exceptional Investment Opportunity in Desirable Wallingford! This conveniently located legal duplex offers outstanding flexibility, strong rental income, and long-term investment potential—ideal for investors, owner-occupants, or multi-generational living. Generating $79,200 in actual annual rental income, with a projected NOI of $64,220 and a 5.36% cap rate, the property benefits from low operating expenses, with tenants paying all utilities and the owner responsible only for property taxes and insurance. No HOA fees! Live in one unit and rent the other, or enjoy the established rental income. Previously operated as an Airbnb, offering additional potential (buyer to verify eligibility). Each unit is separately metered with its own tankless water heater. Recent improvements and desirable features include a new roof, off-street parking, basement storage, a stone patio, and a private fenced backyard. Enjoy impressive Seattle skyline views from both units! The upper unit features double French doors opening to a balcony, while the lower unit offers a charming wrap-around porch. Ideally situated minutes from I-5, the University of Washington, Gas Works Park, John Stanford International School, and other highly regarded schools. A rare opportunity to own an income-producing duplex in one of Seattle's most sought-after neighborhoods! Offered at $1,199,000 | 5.36% Cap Rate | $79,200 Annual Rental Income.

Courtesy of NWMLS
Listing Broker: Skyline Properties, Inc.; [email protected]; Amir Rashidi; (206) 498-2290



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Last checked: 2026-11-12 05:39 AM PST